How Much Does Cheap Paint Cost Your Business?
The term false economy is described as ‘an apparent financial saving that in fact leads to greater expenditure’. This effect is ever present in so many areas of our daily lives nowadays it’s hard to separate the good deals from the bad.
Retailers of any goods will typically operate a system of pricing that is based on their knowledge of how much their customers are willing to spend on a particular product.
If they know from their sales patterns that as soon as a price on a specific item goes above a certain point its sales drop off, they will do what they can to fix the item at that price.
That leaves them with a few options. For example, they could try and negotiate better cost prices from their suppliers, or they could accept a lower profit margin off of the greater volume of sales they experience at the lower price.
But where most of the flexibility occurs to maintain that ideal price point is on the quality of the product itself.
Quality Affects Everything
Commercial paint is no different, in fact the particulars of its use and application in a business environment means the potential for loss through the false economy of cheaper paint has multiple layers that all add up to significant amounts of money.
When redecorating a business you have three key areas of expense as well as a raft of secondary considerations which add to the argument. The primary concerns are; the cost of materials, the cost of labour, the duration of work/cost of lost business.
The Cost of Materials
The most apparent cost of the upfront price per can is hard to ignore. It’s often something many buyers cannot get past when judging the value of the product, and manufacturers know to exploit this.
Brands know how much their customers are willing to pay per can and each brand has a different perception of quality associated with it. Some can get away with charging a little more as their customers pay the premium for the perceived superior quality that goes with it.
Better paint does cost more, there’s no getting around that – but the real trick is figuring out which ones are genuinely better quality and which ones only want you to believe they are so they can continue charging you more.
Premium paint has a variety of advantages, and one of the most significant is that it has much better coverage than other paint. You will need less of it to cover the surface you are painting and less coats to achieve a perfect finish.
For example, users of Paintfinity report an average 30% reduction in the amount of paint they needed compared with cheaper paint - which is effectively 30% you can take off the price per can.
Another saving on materials comes through needing less different types of paints. Some manufacturers sell a type of paint for just about every material and surface you can imagine, and when combined with finish types it can mean dozens of different paints are supposedly needed for a given job. This will often lead to you needing to buy more overall because you are buying smaller amounts of multiple different products, which in turn will lead to having more left over at the end of a project which will end up as waste.
There are of course some specialty paints for very specific tasks that are unavoidable, but for the most part if you choose the right paint you don’t require a different type of paint for every small task.
Paintfnity is a premium paint and is so versatile and durable that it is only produced in five different types as they are able to cover the vast majority of surface types, with all but one of the product range suitable for both interior and exterior use.
Cost of Labour
Labour cost is closely linked to the cost of materials, because using less paint means less work is needed to use up the paint. If you need 30% less paint to complete a job, you need about the same amount less in man hours to complete the task. If a surface requires fewer coats, even better.
Less coats of paint means less messing around with equipment between coats – either washing out brushes and rollers in preparation for the next coat, or trying to keep them from drying out while waiting.
Using acrylic based paint also cuts drying times between coats drastically.
After the VOC (Volatile Organic Compound) regulations were introduced in 2010, many types of oil based paint were no longer legal, and to fill the void acrylic based paint technology has had to improve significantly.
Acrylic paint is much more user friendly, as it is quicker to clean with no need for spirits. It also dries far more quickly. Paintfinity’s range is 100% acrylic with recoatable drying times as low as 20 mins to one hour – ready for a second coat.
With almost no time wasted between paint stages, jobs that would normally take several days to complete because of drying times can now be completed in just a day – saving even more on labour costs.
Duration of Work/Cost to Your Business
Every day a room, area or building is out of service because of maintenance or refurbishment work, is a day it’s not functioning, and the business operating form it is either significantly disrupted, or worse not generating revenue from it. This is exactly why businesses should, and often do want work completed as quickly as possible.
Choosing to use a premium quality acrylic paint significantly speeds up the time it takes to complete the task as it is easier to work with, needs less work to achieve the required result, and has quicker drying times – allowing a business to put its property back to work sooner.
It’s a simple enough exercise to roughly work out what it would cost a business or part of it to be closed per day. That cost should be directly added to the cost of refurbishment to establish the whole initial cost of the project, which makes selecting the right products to get the job done quickly a prime concern.
It Doesn’t End There
When choosing to invest more in the paint you are selecting for the task, you must also factor in the lifetime value of the work otherwise it’s an unfair comparison.
You cannot judge whether it was the right choice to opt for a cheaper or more expensive paint if you are not looking how soon you had to repaint it afterwards. This is one area where premium paint makes significant gains over their cheaper counterparts.
Standard quality or lower will fail quickly depending upon the physical use that a property or space within a property has. In a home environment with low wear & tear this would probably not be an issue, but in a business suffering frequent use it’s a problem because you have to go through the whole process again, especially when business income is linked to spaces and or buildigns beign operational.
Premium paint is significantly more durable, lasting longer and looks better during its lifetime. Paintfinity will typically add a factor of between 25% and 40% to the amount of time you can expect from other commercially available paint products.
Premium paint is superior in just about every way to other paints, and if only we could all get past the price per can we would discover it can actually be cheaper too.
If you would like more information on Paintfinity’s commercial paint products please contact us here or call us on 01962 711 640.